Your Directors have pleasure to submit their Directors Report for the year ended on 31st March, 2014.

1) FINANCIAL REVIEW:
                                                           [Rs in Lacs]

Particulars                                Year ending      Year ending
                                           31st March,      31st March,
                                           2014                 2013

Total Income                                  15.05                -

Total Expenditure                             15.07            29.27

Gross Profit/(loss)                          (0.02)          (29.27)

Depreciation                                      -                -

Provision for taxation                            -                -

Extra Ordinary Items                              -                -

Adjustment for earlier years                      -                -

Profit/(loss) After Tax                      (0.02)          (29.27)

2) OPERATIONS:

The Company has achieved sales turnover of Rs. 15.05 Lacs during the year compared to Rs. NIL during the previous year. The Company has incurred net loss of Rs. 0.02 Lacs compared to Rs. 29.27 Lacs in the previous year. Your directors are optimistic of achieving much better results in the next year.

3) DIVIDEND:

Since the Company has earned loss in the Financial Year ended on 31.03.2014. Hence no dividend is declared by the Company.

4) FIXED DEPOSIT :

During the year under report, the Company has not accepted any deposit to which the provisions of Section 58A of the Companies Act, 1956 and corresponding Section 73 to 76 of the Companies Act, 2013, are applicable.

5) PARTICULARS OF EMPLOYEES:

The particulars of the employee of the Company drawing total remuneration of Rs.60,00,000/- per annum or Rs.5,00,000/- per month as required U/S 217 (2A) of the Companies Act, 1956 is Nil.

6) DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to the requirement of Section 217 (2AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed:

I. that in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures.

II. that the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company at 31st March, 2014 being end of the financial year 2013-14 and of the Profit of the Company for the year.

III. that the Directors have taken proper and sufficient care for maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

IV. that the Directors have prepared the annual accounts on a going concern basis.

7) DIRECTORS:

Pursuant to the provisions of Section 160 of the Companies Act, 1956 and the Articles of Association of the Company Mr. Ravi P. Gandhi appointed as an additional director w.e.f. 1st August, 2013 and regularised as Independent Non-Executive Director in previous AGM and Mr. Goravrajsingh V. Rathore appointed as an additional director w.e.f. 1st August, 2013 and ceased from directorship on 14th September, 2013. Further Lokesh Chayansingh Shekhawat appointed as an additional director on 15th April, 2013 and ceased from directorship 14th September, 2013.

During the year Mr. Kuntal Jyotindra Kavi, Mr. Dhenuk Jayeshkumar Kavi ceased from Directorship w.e.f. 01st August, 2013.

Mr. Mukesh Shah, Director of the Company will retire by rotation in the ensuing annual general meeting and being eligible offer himself for reappointment.

8) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

1) CONSERVATION OF ENERGY :

A. Energy Conservation measures taken: The Company gives top most priority to energy conservation.

B. Additional investment and proposal if any being implemented for reduction in consumption of energy : NIL

C. Energy consumption in terms of electricity, LDO and Gas : NIL.

D. Total energy consumption and energy consumption per unit of production: NIL.

2) TECHNOLOGY ABSORPTION :

A. Adoption and innovation: N.A.

B. Research and development ( R & D ) : NIL

3) FOREIGN EXCHANGE EARNINGS AND OUT GO : NIL

9) AUDITORS:

The present Auditors of the Company M/s. Praful N. Shah& CO., Chartered Accountants, Ahmedabad were appointed as Auditors and will retire at the ensuing Annual General Meeting. M/s. Praful N. Shah& CO., Chartered Accountants, Ahmedabad have submitted certificate for their eligibility for appointment under Section 139 of the Companies Act, 2013. Board of Directors of your Company favour his re-appointment as Auditors of the Company and such re-appointment, if done, shall be up to the conclusion 28th Annual General Meeting to the conclusion of 32nd Annual General Meeting of the Company.

The notes and remarks of Auditors are self explanatory and therefore do not require any further clarification.

10) CORPORATE GOVERNANCE:

Pursuant to the requirements of the Listing Agreement with Stock Exchanges, your Directors are pleased to annex the following:

1. Management Discussion and Analysis Report.

2. A report on Corporate Governance along with Auditor's Certificate relating to compliance of conditions thereof.

11) LISTING:

The Equity shares of the Company are listed on Ahmedabad and Bombay Stock Exchanges. The Company has paid Annual Listing Fees of Bombay Stock Exchange, up to the year 2013-14.

12) ACKNOWLEDGEMENT:

Your Directors acknowledge with gratitude the Co-Operation and Assistance received from the Banks, Government, Employees and all those associated with the Company during the year under review.

                                        For and on behalf of the Board

Place: Ahmedabad
Date: 14/08/2014               Mihirbhai S. Parikh       Saurin J. Kavi
                                      Director              Director